>> "bbc world news" is presented by kcet, los angeles. funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu. the newman's own foundation. the john d. and catherine t. macarthur foundation.

and union bank. >> union bank has put its financial strength to work for a wide range of companies, from small businesses to major corporations. what can we do for you? >> and now "bbc world news." >> this is "world news today." i'm george alagiah. share prices in dubai and abu dhabi take a dive. now the property developer called for suspension of trading. the last major nazi era trial and apparently aging john demjanjuk brought the court.

the killing of four police officers in seattle. a crack team surrounded house belonging to the key suspect. the disputed election in honduras. reaction to the victory could set america at odds with others in the region. it is 7:00 a.m. in washington, midday in london and 4:00 and afternoon in dubai where further revelations about its debt crisis have sent jitters through the region. the news thathe state's main property vehicle has asked for trading in some of its bonds has -- to be suspended and sent share prices tumbling in dubai and neighboring out the dhabi. reaction around the region has been mixed. asian stocks rose but experts warn the trouble will make investors look twice at government bonds in general and by's as a growth model in particular.

>> the middle east first chance to react to this shocking announcement and as expected, markets fell. but with the dubai market down 7% and of the doubt become 8%, not as bad as many expected and feared. many expected 10% fall was all but inevitable. indications of just aren't investors were the ones pulling out their money. locals choosing instead to sit out the storm. >> a little down. everything will be better in -- >> some comfort that losses were not as steep but there is still needs. lack of information from authorities is feeling speculation the bailout money might not be as forthcoming as firstexpected. it and knees, too, about the apparent lack of immediate help from out about it. it indicated it is not prepared

to make another wholesale bailout of dubaie's debt but will pick and choose what to say. it put $15 billion in dubai, in my wondering where it went. a deal still needs to be reached with creditors to extend the deadline for repayment of that will buy some time. but even after all the market turbulence and uncertainty, the biggest concern here is what it does to do by's international reputation -- dubai's reputation. will investors ever come back? >> joining me is a financial analyst at the american diversity in beirut. i don't know how much of the report you were able to hear but you said in a trader, everything will be better. the thing that will be the reaction? >> obviously is the long term,

not sure how this will be worked out. obviously there is a problem in dubai and arounthe globe. we are still financing our debt with more debt. that is what happened in the united states and what is happening in europe and what is happening in asia. i think at one time we could have another bubble and as bubble is going to be bigger from the other. the united states, now the cost of financing their debt is about $50 billion a year. looking at $900 billion in 2020. obviously the problem of that accelerating and putting investors at risk. in dubai we have a big bubble and i think abu dhabi has to put the burden of correcting a miscalculation. >> professor, what do you think

is abu dhabi's position. it is not entirely clear whether they will underwrite the whole thing or pick and choose which of the debts they are going to deal with. >> obviously -- they say they cannot -- they probablyavto put first of all a new regulation a new role and they have to tighten the belt. they cannot just bail out and then go into another problem. but so far, the central banker of dubai -- liquidity, but they said they have to pick and choose. they don't have to reschedule all of that but they have to schedule some of that. this is going to be a new equation now. >> what do you think all of this says about dubai's growth model,

the way it conducted its affairs, the big picture. >> obviously they used to be a debtor and now they are a major capital where tourism is taking place -- multinational corporations. but the overstretched themselves, like any other investor are around the world. this subprime crisis -- it is now in dubai and they are overextended and they could not meet their obligations. in all, there is a good problem. $80 billion in debt for 1 million people, that is a lot of debt for that country. >> professor, thank you very much for being with us, thank you. in the world business report we will have more on the crisis in just under 30 minutes.

also you can check and a website, bbc.com/news for all of the analysis and market data. the round up of some other stories. widespread international condemnation of iran bought a plan to expand its controversial nuclear program. the white house says the proposal to build 10 new uranium enrichment plants is a serious violation of iran's obligations. the british government says it would be a deliver breach of five united nations security council resolutions. in russia, funerals are expected to take place for some of the 26 people killed in a train crash friday. investigators say the cracks between moscow and st. petersburg was caused by a bomb. it is not clear, though, who planted it. the world health organization has issued new guidelines for the treatment of hiv patients that could double the number of people being given antsy retro viral drugs. it recommends treatment should begin a year or two earlier than

plot -- at present. following the studies such a move would significantly increase the chances for survival. a manhunt is underway after four police officer shot dead at a coffee shop in washington state in an attack described as an execution. other people in the coffee shop at the time were not injured. police said the gunman may have been injured when one officer managed to return fire. >> boris clemens is one person police are looking for after the shooting. it is not clear if he is in a house in seattle which has been surrounded. >> we pray for strength. >> earlier there was a vigil for the four police officers shot dead while they sat in a cafe. this is a community in mourning for officers mark running there, ronald owings, tina griswald and greg richard.

after when of the worst police shootings extreme caution. a gunman is on the loose. armed officers surrounded a convenience store before searching it. roadblocks are set off near to where the four officers are killed. in the attack, south of seattle and washington state, shattered the peace of a sunday morning. two of the officers were shot where they sat. a third standing up. police say the fourth shot back. >> we believe there was a struggle, commotion, and fight. the exact details and not been met out. the evidence tells us there is a possibility the police officer got some shots off, fought the guy all the way out the door and we are hoping there are some injuries on him, including gunshots. >> an appeal has gone out to medical facilities to report anyone coming in with a gunshot wound. police say they don't know why the shooting happened but that the victims were ambushed.

it targeted because they were police officers. bbc news. >> it is expected to be the last big not see error trial, john demjanjuk is accused of murdering tens of thousands of jews -- azi trial. mr. demjanjuk, deported from the united states early this year, denied he was a camp guard in nazi-occupied poland. steve rosenberg has the very latest. >> the trial of john demjanjuk began around 70 minutes late when he entered the court room -- he was wheeled into the court. wearing a blue baseball cap and covered with a blue blanket. his eyes were closed and mumbling something. clearly conscious. the defense argued in the run-up to the trial that john demjanjuk is not fit enough to stand trial. the city is suffering from early

stages of leukemia, kidney problems and back problems. certainly looks on well but the trial went ahead and it began what the defense team with a motion to the court trying to get therial stopped on the basis that in the past more senior perpetrators, nazi perpetrators connected have been acquitted by courts. in the courtroom today, lots of press, 300 journalists have turned up today. but also two survivors of the death camp. that is the death camp john demjanjuk is accused of being a guard at and charged with 27,900 counts to being an accessory to their murder. also in the court were around 20 relatives of people who have been killed in the death camp. the trial is expected to last several months. their mother was steven rosenberg watching the court case for as in munich.

-- >> that was steve rosenberg watching the court case in munich. >> president obama expected to announce tens of thousands of more u.s. troops in an increasingly unpopular war. mr. obama is also seeking thousands of troops from nato allies. britain is getting closer to confirming an increase in troop levels. the defense secretary says the military now has enough equipment to send a further 500 british troops to afghanistan. >> we have been doing a lot of work over the last few months to try to make sure t conditions set by the prime minister have been met and satisfied, that they have been met with the ratios and equipment that people need for the levels of treatment we have in afghanistan -- they have improved over the last few months and quite considerably, in terms of helicopters and protected vehicles as well. certainly the first condition

imposed has been met. >> britain's defense secretary. this is "world news today." coming up, is this an end to political turmoil? a new man wins the presidential election in honduras. and what really happened in florida, and mystery deepens about a car crash that injured the world's leading golfer, tiger woods. the biggest annual pilgrimage in the world adjust and is. more than 2 million muslims packing and leaving the outskirts of mecca. for many it was a very challenging experience. >> the dense city -- hear pilgrims come every year from all over the world. many stay in overcrowded camps. others are forced to sleep in the sidewalk under open skies.

the basic human needs of this gigantic crowd is a daunting task. the survival can be a daunting experience. >> it can mean different things to different people but what a lot don't realize how demanding and physically exhausting haj can be paired they have to walk with its huge crowds every day for five days and it did retiring from one place to another place. >> th is because transport is cut to a minimum and programs are expected to perform a better part on foot. but that takes a toll on many programs. -- pilgrim is. like this first time from india. for him this was supposedly a journey for the lifetime but it turned out to be a major disappointment. >> they have no right to torture others like this. it wasn't sold like this, to trouble others. we paid money, we are not beggars.

whatever we paid is a donation. >> but not everyone feels that way. others say it is supposed to be challenging. >> i wanted to, again and again, if god gives me a chance i will come every year. >> as this year's comes to an end and you had back home, pilgrims have conflicting tales to tell from the same gathering. >> this is "world news today" from bbc world news. i'm george alagiah. the main headline -- main stock market in dubai drop sharply in response to the debt crisis. john demjanjuk, accused of murdering tens of thousands of jews has appeared in a german court. provisional results in honduras

suggest that porfirio lobo, an opponent of manuel zelaya has one. after -- months after zelaya was forced out at gunpoint. then after of the doubt, one thing about this election does this seem to lack been settled. there is a winner. pepe lobo, wealthy landowner and a man who says he can unite the country. then i will immediately tell 21 -- understand each other and remain united so we can have peace in this country. >> but well as victory be seen as legitimate? those that say it will deploy to the circumstances under which this election was held. honduras as a government which is not recognized by the rest of the world. it it showed its heavy hand on sunday against those that oppose

the elections. but the government argues that this was a fair and free vote that was scheduled well before the military-backed coup that oust the last elected president. it says that is evidence that the authorities here are following the will of the people. a decisive victory would appear to make things even more difficult for the beleaguered president zelaya who spent the last 10 weeks and roof ridge -- refuge in the brazilian embassy. he is not giving up the fight. >> i declare this process illegal and illegitimate as the president of honduras. it does not represent a sovereign rights of hondurans and should be annulled and redone under a legal system >> on his side are many latin american governments who say there is no excuse for removing elected president by force. they warn that if it happened once, it can happen again.

bbc news, tegucigalpa. >> joining me from london is the bbc world services americas editor. thank you for being with us. you just heard -- i hope you did, and it way -- mr. lobo saying he would like to unite the country. >> that is his main challenge. obviously he wants been of this unity around him. hopefully it will put it back to the diplomatic map. most countries in the world don't recognize this interim government and some are looking for a new beginning with these elections. the united states, for example, already mentioned they will recognize the results. the difficulty is all the latin american countries very close would not recognize it. >> that is the problem. two things.

the obama administration start of supporting zelaya, saying they could not sanction a co and now they seem to be supporting the election victory and at the same time that puts them, as you say, at odds with the giants like brazil. >> we can be looking at a scenario that the new leaders have the backing of places like the unite states, possibly the european union but it will be much harder to get backing from other closely associated countries like venezuel like brazil, the major latin american powers. a very difficult balance for the new government. also a lot of questions about the legitimacy of the government because of the way the elections were conducted. >> can any government in south america -- survive is to strong a word -- but can they get along without the support of brazil and venezuela? >> it may be difficult. it will depend, of course, on

how the americans will act. it and doors will certainly put the united states -- honduras will certainly put the united states and some latin american countries at odds. it will be interesting to see how they and deal with the spirit -- deal with this. venezuela, for example, has a lot of economic support so we will see if the united states can match this. >> the world's no. 1 golfer tiger woods is still refusing to the police three days after being injured in a mysterious car crash outside of his florida home. in a statement he took the blame. he says the circumstances are a private matter but the police insist they are still investigating what happened. from washington. >> this was the 911 call placed by a worried neighbor after tiger woods crested sport- utility vehicle into a fire hydrant entry. >> i have someone down in front of my house.

they hit a pole. i have a neighbor, he hit the tree. he is letting down. >> an auto accident? >> an auto accident, yes. >> is the unconscious? >> yes. >> when emergency personnel arrived, the world's no. 1 golfer was drifting in and out of coniousness with cuts to his face and blood in his mouth. for the first time since the accident, which happened in the early hours of friday morning, tiger woods made a public statement posted on his official website, the golfer accepted responsibility for the crash, saying he found the situation embarrassing. woods also praised his wife for coming to his aid, saying she acted courageously when she saw he was hurt. but his statement does nothing to answer the many questions and that still remain over what led up to the crash. it has been reported in the american media that woods had been seen socially with another woman and there has been speculation about the state of his marriage. woods said it was a private

matter and he wanted to keep it that way. >> with the sport -- how do you think this will go down with his legions of fans around the world? >> of course, they want to know what everyone else wants to know, the answers. one consolation to tiger is he is not planning any torn at the moment because you could imagine the spotlight on the fairways, questions from fans, glare of publicity if it was in a tournament or a buildup to the open. he's got a couple of months to a plea deal with it. hope it goes away until the action effaces fans again. >> let us go to football news. fifa president said football association of ireland asked to be in the world cup finals with an extra team following the loss to france. they are discussing the matter after they lost after an extra

time goal -- following a handball into the build up. this said the world cup system must be looked at. ireland posset extra plays will be raised at the meeting but the executives say it will be allowed to happen. some of the action in north america. indianapolis colts recorded their 20th success of regular- season victory sunday with another winner in which they came from behind, following on from nine wins on the back end of last year, now a 11. court -- quarterback peyton manning both for touchdowns -- 25-27 win in the end. their record is 11-0. a victory over tennessee next weekend, would be 21 consecutive wins. that was set by new england last year. the patriots played monday night

against the only other undefeated team this season, new orleans saints. brett favre threw for 3 td's -- closer to wrap up that nfc no. title. the 40-year-old veteran completed 32 of 40 passes in the game, 392 yards. >> thank you very much. japan's fishing industry is under threat from an unusual predator. swarms of giant jellyfish have appeared among the pacific coast after apparently drifting from sporting grounds in chinese and korean waters. the phenomenon has already cost the industry $110 million. >> never seen anything like it before. slimy gel of this, some bigger

than sumo wrestlers. they may be spectacular size but the creatures of called fission in the grip. one even sank a japanese fishing boat. the vessel capsized after the jellyfish became stuck in the net. the jellyfish can measure up to 2.2 meters in diameter and weigh up to 300 kilograms. they not only clogs up next -- nets but tentacles can poison and crush. but little is known about them. >> since 2002, we have seen huge numbers of giant jellyfish are around the coast of japan every year. it to thousand five was the year when they were particular en masse. >> experts are still trying to understand what caused the jellyfish to appear in proportions. but some suspect global warming could be to blame. the waters and the sea of japan is seen to be warning three

times faster than the global average. >> rising sea temperatures could be a factor behind this phenomenon as they promote the growth of these jellyfish. >> but overfishing and pollution are also thought to be factors -- fish that would normally prey on them before they become these monsters. bbc news. >> a reminder, the main stock market in the dubai and out without a closed sharply lower. plenty more on bbc.com/news. >> funding was made possible by the freeman foundation of new york, stowe, vermont, and honolulu. the newman's own foundation. the john d. and catherine t. macarthur foundation. and union bank.

>> union bank has put its financial strength to work for a wide range of companies from small businesses to major corporations. what can we do for you? >> i'm julia stiles. >> i'm kevin bacon. >> i'm kim cattrall. >> hi, i'm ken burns. >> i'm lili taylor. >> i'm henry louis gates, jr., and public broadcasting is my source for news about the world. >> for intelligent conversation. >> for election coverage you can count on. >> for conversations beyond the sound bites. >> a commitment to journalism. >> for deciding who to vote for. >> i'm kerry washington, and public broadcasting is my source for intelligent connections to my community. >> "bbc world news" was presented by kcet, los angeles. presented by kcet, los angeles.